BERLIN (Reuters) – Germany plans to invest about 20 billion euros ($22.15 billion) in the semiconductor industry in the coming years, the economy ministry said on Tuesday, amid growing alarm over a weak supply chain and dependence on South Korea and Taiwan for chips.
Money will be drawn from the Climate and Change Fund from 2024 onwards, the Minister said, adding that he can only grant funding to individual projects after the approval of the European Commission.
It said that Taiwanese semiconductor manufacturer TSMC has expressed interest in investing in a semiconductor manufacturing facility in Germany and that the department is in close contact with the company on the investment decision.
Last month, Berlin agreed to a deal worth around 10 billion euros with US chipmaker Intel to build two facilities in the eastern city of Magdeburg.
(Reporting by Riham Alkousaa, editing by Friederike Heine)
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